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Volume 1, No. 7 - October 2010
 
Case Notes

The following are instances in which licensees or other persons violated the Florida Insurance Code and the administrative action the department has taken against them.
Note: All administrative investigations are subject to referral to the Division of Insurance Fraud for criminal investigation.


Case: An investigation of a title agent alleged that she diverted escrow funds exceeding $300,000, failed to disburse according to the HUD-1 Settlement Statement, and failed to provide a current business address.
Disposition: License revoked.

Case: An investigation of a life, health and variable annuity agent alleged that he submitted insurance-related documents without the knowledge, consent or true signature of the insureds.
Disposition: Probation for 12 months and fined $2,500.

Case: An investigation of a life and variable annuity agent alleged that she was adjudicated guilty of three fiduciary-related felonies while holding an insurance license in the State of Florida.
Disposition: License revoked and permanently barred.

Case: An investigation of a public adjuster alleged that he failed to timely appoint a public adjuster apprentice under his supervision and authorized a misleading advertisement to be placed before the public.
Disposition: Probation for six months; fined $1,250.

Case: An investigation of a general lines agent alleged that he charged an improper fee in excess of the applicable premium.
Disposition: Probation for 12 months and fined $750.

Case: An investigation of a non-resident life, health and variable annuity agent alleged that he misrepresented the terms and conditions of several annuity policies to three Florida insurance consumers.
Disposition: License suspended for six months; probation for six months when reinstated.

Case: An investigation of a customer representative alleged that he misappropriated $738 in fiduciary funds collected in the normal course of business by overcharging Florida insurance consumers for premiums on their motor vehicle insurance policies and retaining the difference between the amount collected and the true policy premium.
Disposition: License suspended for nine months; restitution of $738.